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LONDON MARKET CLOSE: FTSE 100 rises despite tariff worries; M&G shines
- The FTSE 100 outperformed its European counterparts, closing up 0.6% despite mixed performances elsewhere.
- The pound and euro weakened against the US dollar, while the dollar remained flat against the yen.
- US President Donald Trump threatened renewed trade tensions with China, accusing them of violating a deal to de-escalate tariffs.
- US inflation continued to ease, with the core personal consumption expenditures index falling to 2.5% in April from 2.7% in March.
- German consumer price inflation remained steady at 2.1% in May, according to flash estimates.
- Shares in M&G shot up 5.5% after announcing a strategic partnership with Japanese life insurer Dai-ichi Life Holdings.
- AIM-listed hVIVO sank 46% following the cancellation of a significant human challenge trial contract.
- Brent oil and gold prices fell on Friday, with Brent crude down to USD62.53 per barrel and gold at USD3,286.33 an ounce.
- Monday's economic calendar includes manufacturing PMI data from Japan, the Eurozone, the UK, and the US.
LONDON MARKET MIDDAY: London rises as EU strives for US trade deal
- European blue-chip stocks maintained their upward trajectory on Friday, with the FTSE 100, FTSE 250, and AIM All-Share indices all posting gains.
- The EU remains committed to securing a trade deal with the US, according to the bloc's trade commissioner, Maros Sefcovic.
- In currency markets, the pound and euro weakened against the US dollar, while the dollar fell against the yen.
- Brent oil prices rose, while gold prices edged lower, awaiting US inflation data for insights into the Federal Reserve's policy moves.
- A US federal appeals court temporarily reinstated Trump's tariffs, adding uncertainty to trade policy expectations.
- Stocks in New York were expected to open lower, with small losses predicted for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite.
- US Treasury Secretary Scott Bessent indicated that trade negotiations with China were stalled, suggesting potential involvement from Trump and Xi Jinping.
- Workspace Group led midday losses on the FTSE 250, while Petro Matad sank following an update on its Mongolian operations.
- Argentex rose as the number of potential buyers was narrowed down to one, IFX, following the withdrawal of other interested parties.
- Investors awaited the US core personal consumption expenditures index reading, scheduled for release later in the day.
LONDON BROKER RATINGS: 'buy' Beazley and Hiscox, 'hold' Lancashire
- 30th May 2025 09:22
- The following London-listed shares received analyst recommendations Friday morning and on Thursday:
- FTSE 100
- JPMorgan cuts Intermediate Capital to 2,315 (2,362) pence - 'overweight'
- RBC raises SSE price target to 2,000 (1,900) pence - 'outperform'
- Berenberg reinitiates Hiscox with 'buy' - price target 1,450 pence
- Exane BNP raises Hiscox to 'outperform' - price target 1,400 pence
- Berenberg reinitiates Beazley with 'buy' - price target 1,150 pence
- Barclays cuts Auto Trader price target to 965 (995) pence - 'overweight'
- JPMorgan cuts Auto Trader price target to 745 (746) pence - 'underweight'
- Barclays raises Tesco price target to 415 (400) pence - 'overweight'
- FTSE 250
- Berenberg reinitiates Lancashire Holdings with 'hold' - price target 670 pence
- Barclays cuts Workspace Group price target to 525 (630) pence - 'overweight'
- RBC cuts Hollywood Bowl price target to 410 (415) pence - 'outperform'
- Jefferies raises Aston Martin price target to 75 (70) pence - 'hold'
- Related Shares:
LONDON MARKET OPEN: London rises as BoE warns on economic outlook
- London's FTSE 100 started Friday in positive territory, with the index up 0.6% at the open.
- This comes as a Bank of England rate-setter, Alan Taylor, expresses concern about the UK's economic outlook and hints at further interest rate cuts.
- The FTSE 250 and AIM All-Share also opened higher, up 0.3% and 0.1% respectively.
- M&G was the top gainer on the FTSE 100, rising 7.6% after announcing a strategic partnership with Japanese insurer Dai-ichi Life.
- Aptamer Group rose 12% on news of a second Optimer discovery programme with Unilever.
- Alpha Group International led the FTSE 250, up 4.6%, following continued takeover talks with Corpay.
- hVIVO plunged 58% after the cancellation and postponement of several contracts.
- European equities were also positive, with the CAC 40 and DAX 40 up 0.1% and 0.3% respectively.
- Wall Street ended Thursday's session in the green, with the Dow Jones, S&P 500 and Nasdaq Composite all up around 0.4%.
- Oil and gold prices were slightly lower, with Brent crude down at USD63.29 and gold quoted at USD3,296.09 an ounce.
LONDON MARKET EARLY CALL: London called up amid Trump tariffs appeal
- London stocks are expected to open higher on Friday, with the FTSE 100 predicted to open 0.3% higher, following a temporary US court ruling that allows tariffs to continue during the president's appeal.
- Sterling and the euro are down against the US dollar early Friday, while the dollar is lower against the yen.
- A US federal appeals court has temporarily blocked a lower court ruling that would have halted many of President Trump's tariffs, allowing the appeals process to continue.
- The White House has criticized the initial ruling as "blatantly wrong" and expressed confidence in a successful appeal.
- Chicago Fed President Austan Goolsbee suggested that if Trump's tariffs are reduced, the Fed may consider cutting rates, given the strong economic situation with low unemployment and falling inflation.
- On Thursday, Wall Street closed in positive territory, while Asian markets were mixed on Friday, with the Nikkei and Hang Seng indices declining, and the Shanghai Composite and S&P/ASX 200 indices posting gains.
- Gold and Brent oil prices are down early Friday, while US Treasury yields remain steady.
- Bank of England governor Andrew Bailey has supported efforts to strengthen UK-EU trade ties, aiming to minimize the negative impacts of Brexit on trade.
- Business confidence in Scotland rose above the UK national average in May, according to the Bank of Scotland's business barometer.
- In today's economic calendar, the US core personal consumption expenditures index and the German consumer price index are due for release.
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